with obama in the white house for another four years, republicans are looking for something much smaller. even a down payment on medicare. that they can still call victory. is that enough on entitlements, ed o'keefe? >> it might be in the short-term. i agree with a.b. and i agree with erskine bowles that eventually there's going to be longer-term discussions about this if they want to get serious about budget cuts. >>> this is is a president who has an appetite for spending cuts. he has talked about it throughout his presidency. he hasn't had a chance just yet. this may be his opportunity to do so and say look, i got taxes, but i also gave you spending cuts and we got serious about fixing this problem. if can he do that, i think he himself could declare victory. the question is whether more liberal members of the house and even of the senate, would go along with some kind of plan and that's why i think republicans may be right. minimal changes for now. probably a good thing. whether or not it happens long-term remains to be seen. >> a.b. stoddard of the hill, ed o'keefe from the "washing